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Two former Vinashin execs sentenced to death for corruption

Two former executives from Vinashin Ocean Shipping (Vinashinlines) have been sentenced to death for corruption, while a third has been imprisoned for life.

Marcus Hand, Editor

February 23, 2017

1 Min Read
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Following a four-day trial the three senior executives from the former subsidiary of state-owned Vietnam Shipbuilding Industry Group (Vinashin) were found guilty of having embezzled more than VND260bn ($11.5m) according to local reports.

Former Vinashinlies sales manager Giang Kim Dat, 40, and former director general Tran Van Liem, 62 were both sentenced to death for embezzling at least VND255bn. Meanwhile former chief accountant Tran Van Khuong, 67, was jailed for life for embezzling $110,000.

According to the indictment between July 2006 to March 2007 Liem signed contracts to buy three foreign ships, Vinashin Summer from Panama, Vinashin Island from Croatia and Vinashin Phoenix from Greece. He authorised Dat to negotiate with the foreign partners.

Dat gained nearly VND11.5bn of commission during negotiations to buy the vessels. The three were said also to have earned VND250bn illegally from charter revenues from nine shipowners between May 2006 and June 2008.

The sentences for corruption are latest involving former Vinashin executives. In 2012 former Vinashin chairman Pham Thanh Binh was jailed for 20 years, and eight other former senior executives were also given prison sentences.

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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